How does Property Management effect How does Property Management effect my job?my job?

Colorado State University is accountable to taxpayers, sponsors and other governmental agency’s for $265,228,351.38 in Capital Equipment Assets.

A little known fact:The Facilities and Administration rate (indirect cost) is charged on purchases for research projects and brings crucial external funds to our campus. The depreciation from capital assets is used in the Facilities and Administration rate which contributes to the departments 16 fund accounts.

Everyone Is!The Property Management System involves anyone who

touches a piece of equipment. Asset UsersResponsible PartyDepartment Property Contact (DPC)Department Heads (Accountable)Purchasing, Central Receiving, Property Management

Office, Sponsored Programs (Oversight)

• Equipment, buildings, land, land improvements, leasehold investments and Library books, art and collections

Capital Equipment:• Costs over $5000.00 (Exception: the contract for a

sponsored research project, may require a different threshold cost for equipment tracking)

• Will used more than one year• Not a part of a building• Not Expendable

Depreciation: a systematic and rational allocation of costs over the life of a capital asset.

Cost of a capital asset include:• Purchase price• Shipping/Transportation costs• Installation costs• Training support for up to a year• Discounts

Cost not to include:• Extended Warranty Support Agreements• Software for under $100,000

Clustering: Sometimes an asset has several components. To determine if these component costs should be totaled together ask these two questions:

• Will it be used as one unit? • Will it be disposed as one unit?

EQUIPMENT SUBCODES - note bold codes are fund specific – 88, 89 fund rule at bottom8210

Equipment titled to CSU costing $5,000 or more, $1,000 for specific 53 funds. 8250

Vehicles titled to CSU costing $5,000 pr more, $1,000 for specific 53 funds. 8420

Equipment conditionally titled costing $5,000 or more if purchased with federal or sponsored funds,

$1,000 for specific 53 funds. 8440

Equipment federally titled costing $5,000 or more, $1,000 for specific 53 funds. 8460

Equipment sponsor titled costing $5,000 or more, $1,000 for specific 53 funds. 8920

Equipment titled to CSU costing $5,000 or more purchased in a 7xxxxx-fund.8925

Vehicles titled to CSU costing $5,000 or more purchased on a 7xxxxx fund.•

Equipment titled to CSU costing $5 000 or more purchased in a 21-fund general ledger account.

(Must have EAR prior approval from Cost Accounting). •

Vehicles titled to CSU costing $5000 or more purchased on a 21-fund general ledger account.

(Must have EAR proper approval from 21-fund Accountants) May not be split funded.

EXPENDABLES SUBCODES-NON-CAP EQUIPMENT3410

General supplies - items not meeting criteria for equipment3450

Repair Parts - items could meet criteria for equipment but is replacing inoperable items of the same

type.3810

Computer hardware costing less than $5,000 or less than $1,000 for specific 53 funds. Computer

software costing less than $100,000.003600

Non-capital equipment (does not meet capitalization criteria).8905

Equipment added to building purchased in 7xxxxx -fund.•

Non-capital equipment purchased in 7xxxxx -fund (does not meet capitalization criteria).

How do I get rid of this old equipment?How do I get rid of this old equipment?(The EACR Process)(The EACR Process)

EACR is filled out by department Authorization Property Management Department First Pick up Warehousing

Website for forms: http://busfin.colostate.edu/prp.aspx

The equipment may reside on the CSU campus but that does not mean it is

owned by CSU.

CSU property is bought with many types of funds:State Tax DollarsFederal Tax DollarsPrivate SponsorshipDonations/Gifts

The EACR must be approved by the Property Management Department to

ensure title belongs to CSU and it can be disposed of by CSU.

Property Management approval is critical before equipment is moved to

surplus property to protect your department.

The taxpayers care, the State/Federal lawmakers care and Colorado State University cares! CSU is charged with managing an asset through its entire life, purchase through disposal.

Until the asset leaves our campus, we are accountable for the asset’s location and how the condition is maintained.

What is the future of Property What is the future of Property Management?Management?

Here comes KUALI Capital Asset Management System (CAMS)!

Departments will have access to their own equipment records and reports.

Departments will be able to update location and responsible party without a form.

Forms such as the EACR and Campus Check-out form will be electronic.